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Circulus receives financing for expansion

GO CIRCULAR

Circulus receives financing for expansion

Circulus Holdings, a Houston-based plastics recycling company, announced it closed on a $100 million “green loan” with New York-based Riverstone Credit Partners, an investment platform focused on energy, power, decarbonization and infrastructure. - RecyclingToday

Circulus says it will use the financing to expand its plants that incorporate advanced technologies with a multistep mechanical process to transform lower grade plastic into postconsumer resin (PCR). The company says its products address sustainability challenges with flexible plastics. It also improves the use of PCR for plastic bags, shrink film and pouches.

We are excited at the opportunity to partner with Riverstone. The partnership enables Circulus to rapidly develop a broad network of facilities and further the company’s commitment to sustainable manufacturing. We look forward to supporting green-based jobs and preserving our environment for future generations.

David Hudson, Founder and CEO, Circulus

According to a news release from Circulus, the green loan was structured in compliance with New York-based Loan Syndications and Trading Association’s Green Loan Principles. The principles aim to facilitate and support environmentally sustainable economic activity by financing eligible projects. 

We believe that a strong commitment to managing ESG factors such as natural resource management, health and safety, community and stakeholder impact, climate change and greenhouse gas emissions, among other issues is critical to the success of our portfolio companies, funds and firms.

Circulus is aligned with this strategy by meeting the insatiable demand for high-quality PCR while meaningfully reducing greenhouse gas emissions as compared to virgin resin production.

Daniel Flannery, Managing Director, Riverstone

Guggenheim Securities LLC and White & Case LLP acted as sole financial adviser and legal adviser to Circulus. Simpson Thacher & Bartlett LLP served as legal adviser to Riverstone Credit Partners.

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